For those looking to find strong Retail-Wholesale stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Best Buy Co. (BBY - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Retail-Wholesale sector should help us answer this question.
Best Buy Co. is one of 216 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. BBY is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BBY's full-year earnings has moved 6.86% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, BBY has moved about 13.60% on a year-to-date basis. In comparison, Retail-Wholesale companies have returned an average of 7.31%. This means that Best Buy Co. is performing better than its sector in terms of year-to-date returns.
Looking more specifically, BBY belongs to the Retail - Consumer Electronics industry, which includes 5 individual stocks and currently sits at #203 in the Zacks Industry Rank. On average, stocks in this group have gained 6.15% this year, meaning that BBY is performing better in terms of year-to-date returns.
Investors in the Retail-Wholesale sector will want to keep a close eye on BBY as it attempts to continue its solid performance.